Compound Growth

Question

+1

213

2

+13

Thanks!

KLamp Oct 3, 2022

Tuckerrrr · Answer 1 · 2022-10-03T06:39:03

5%=0.05

so each year, it multiplies by 0.05.

And since is ten years. You just have to calculate 0.05^10

Guest · Answer 2 · 2022-10-03T07:08:10

FV ==PV x [1 + R]^N

FV==1 x 1.05^10

FV ==1.628895 - 1 x 100 ==62.8895% total percentage increase.

​ Compound Growth